Bank Of America Puts Customer In Default After Paying Off Mortgage

Bank Of America Puts Customer In Default After Paying Off Mortgage

Not being a Bank of America customer won’t protect you from the company’s formidable foreclosure machine, but if you are a customer, paying off your entire mortgage doesn’t help, either. After an Illinois woman sent a check for more than $60,000 to pay off her mortgage, she learned that the company hadn’t applied the money in her escrow account to the principal as they were supposed to, putting her in default. The company helpfully came after her to collect the money she supposedly owed and help her avoid foreclosure. [More]